LiteForex Video Review:
LiteForex is an up and coming Forex dealer that offers Forex trading in a straightforward and no-nonsense manner. The company has been around since 2005, and can offer accounts with as little as $1, making it a perfect place to learn the markets. The dealer also pays interest of 3.5% on the balance of your account that is not involved in trading as well, offering a way to increase your profits over time.
LiteForex uses the MetaTrader 4 and 5 platforms, both of which are well known throughout the world, and have placed millions upon millions of trades over the years. It also offers a web-based basic platform which is more suited to monitoring positions instead of analytics as it is much more basic than the MetaTrader platforms.
LiteForex offers a call center, a call back feature, and live chat and forum rooms from which to get customer service. Because of this, there is always a way to get in touch with a representative if you need one.
LiteForex has been around for over 6 years, and is reliable. The platform, the MetaTrader 4 or 5, are both well-known and reliable as well.
Commissions and Spreads
LiteForex offers floating spreads without a commission. Most of the major pairs are within a 2-3 pip parameter.
LiteForex is constantly offering various type of promotions, and at the time of this writing was willing to offer an extra $200 to the trader’s account for joining.
LiteForex is a good up and coming player in the Forex markets. The spreads are good, and the ability to deposit with so many options is a huge plus. The dealer seems to be a great place for beginners because of the ability to open an account with so little starting capital.
- Variable spreads. This keeps the spread tight, which is one of your biggest expenses as a trader.
- The MetaTrader platforms are well-known and reliable. It has been being used for years, and is very stable.
- Accounts can be started with as little as $1.
- The deposit process is simple and quick, as you can use a bank wire, credit and debit cards, MoneyBookers, Liberty Reserve, Perfect Money, WebMoney, Liqpay, OK Pay, Alert Pay. Withdraw can be done in reverse.
- Limited to only Forex, so if you are looking to trade other markets, you will need another broker.
- The variable spreads can be an issue during news events, but only if you are looking to scalp the news announcement.